Vietnamese, Japanese firms seek stronger partnership

Tokyo (VNA) – A conference was held in Tokyo on June 21 to strengthen partnership among Vietnamese and Japanese businesses, drawing representatives from more than 100 firms of both sides.

Addressing the event, Trade Councilor Ta Duc Minh highlighted that the two countries have become each other’s important trade partner, as their import-export structure can supplement each other without direct competition.

Japan has high demand in agro-forestry-fisheries products, processed food, consumer goods and garments, which are strong products of Vietnam.

Meanwhile, the two sides are both members of many free trade agreements, providing them opportunities to broaden their trade relations with partners, increase import-export activities and engage deeper in the regional and world supply chains, he noted.

Nakamura Makoto, an economist from the Manufactured Imports Promotion Organisation (MIPRO) under the Ministry of Economy, Trade and Industry (METI) of Japan, said that all Vietnamese products entering the Japanese market must meet strict requirements of the local market from material origin to production stages, which means a strong collaboration among businesses of the two countries is crucial to bring Vietnamese products to Japanese consumers.

During the event, Vietnamese firms introduced their products to Japanese firms and sought partnership opportunities

Japan is currently the leading economic partner of Vietnam, the country’s biggest ODA provider, the second largest labour export market, the third largest investor, the third largest tourism market, and the fourth biggest trade partner. The number of Vietnamese products sold in Japan has increased and they are welcomed by local consumers.

The conference provided a good chance for businesses of both sides to seek partnership opportunities, bringing more strong products of Vietnam to the Japanese market on the basis of optimising the Vietnam-Japan Economic Partnership Agreement (VJEPA)./.